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immsi spa (IMS) Details

IMMSI SpA operates in property and holding, industrial, and marine sectors in Italy and internationally. It operates a tourist and sport’s resort in Pula; and manages building in Rome. The company also manufactures two-wheeled motor vehicles, including scooters, mopeds, and motorcycles under the Piaggio, Vespa, Gilera, Aprilia, Moto Guzzi, Derbi, and Scarabeo brands; and three-and four-wheeled light transport vehicles under the Ape, Porter, and Quargo names, as well as offers engines, spare parts, and accessories. In addition, it constructs high speed ships, such as hydrofoils and fast ferries comprising mono-hulls and catamarans, yachts, and mine-hunters and fast patrol boats for military marines. The company was founded in 2000 and is based in Mantova, Italy.

immsi spa (IMS) Key Developments

Immsi SpA reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales of EUR 318,371,000 against EUR 290,604,000 last year. EBITDA was EUR 40,634,000 against EUR 30,522,000 last year. EBIT was EUR 14,729,000 against EUR 9,348,000 last year. Profit before tax was EUR 764,000 against loss before tax of EUR 5,101,000 last year. Profit for the period from continuing operations was EUR 330,000 against loss for the period from continuing operations of EUR 3,909,000 last year. In the first three months of 2015, the company reported a significant increase in net sales and improvements in EBITDA and EBIT and in the EBITDA and EBIT margins compared with the year-earlier period. The first quarter of 2015 closed with a net profit, compared with a net loss in the first quarter of 2014. At 31 March 2015, the company had net debt of EUR 996.7 million against EUR 909.8 million at 31 December 2014. The rise of EUR 86.9 million from the end of 2014 arose largely as a result of the typical seasonal nature of the two-wheeler business, which absorbs financial resources in the first half of the year and generates resources in the second half.

Immsi SpA Announces Unaudited Consolidated and Parent Earnings Results for the Year Ended December 31, 2014

Mar 17 15

Immsi SpA announced unaudited consolidated and parent earnings results for the year ended December 31, 2014. For the year, on consolidated basis net loss widened to EUR 70.7 million (USD 74.7 million from EUR 33.6 million in 2013, due to a write-down on its stake in Alitalia. Revenues increased 2.6% to EUR 1.275 billion and earnings before interest, tax, depreciation and amortisation (EBITDA) rose to EUR 149 million from EUR 121.2 million. Net financial debt went up to EUR 909.8 million as of December 31, 2014, mostly due to the conversion of a subordinate convertible bond issued by Alitalia-CAI, a rise in Piaggio's debt, and net investments made in the period. EBIT was EUR 57.6 million compared to EUR 34.9 million a year ago. Loss before tax was EUR 68.8 million compared to loss of EUR 26 million a year ago. Loss for the period from continuing operations was EUR 71.3 million compared to loss of EUR 49.8 million a year ago. Loss per diluted share from continuing operations was EUR 0.208 compared to EUR 0.099 a year ago. Adjusted net loss excluding non-recurring transactions and the Alitalia impairment loss was EUR 5.2 million compared with an adjusted net loss of EUR 6.4 million in 2013.
For the year on parent basis, the company reported loss of EUR 65.6 million compared to profit of EUR 14.8 million a year ago. Loss from continuing operations was EUR 65.6 million compared to profit of EUR 14.8 million a year ago. Loss before tax was EUR 67.3 million compared to profit of EUR 11.5 million a year ago. Operating income was EUR 4.5 million compared to EUR 4.8 million a year ago. At December 31, 2014, the parent had net debt of EUR 85.8 million.

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